Danish offshore wind installation company Cadeler said on Monday it has signed two contracts worth a combined €500 million ($538 million) to transport and install both turbines and foundations for an undisclosed offshore wind project.
The company said the foundation transport and installation campaign is scheduled to begin in early 2029, using one of its new A-class vessels currently under construction. The turbine installation phase will follow in early 2030 and will be carried out by one of Cadeler’s O-class jack-up vessels, with completion expected by the end of that year.
Both contracts are subject to the client’s final investment decision, Cadeler said, noting that termination fees would apply if the project does not proceed.
The company said the deals mark its third full-scope foundation transport and installation campaign, further strengthening its position as a full-service provider in the offshore installation market.
Cadeler chief executive Mikkel Gleerup said the project demonstrates the firm’s ability to meet growing demand for comprehensive offshore wind services. “This project reinforces Cadeler’s position as a full-service T&I partner in the foundations space and demonstrates that our strategic direction is aligned with current market demands,” he said.
“With our fleet of nine wind installation vessels – and three additional under construction – Cadeler continues to deliver the flexibility, efficiency, and innovative solutions required to execute increasingly complex projects and to support the necessary build-out of offshore wind globally,” Gleerup added.
Cadeler said its expanding fleet and recent strategic mergers have positioned the company to play a key role in meeting Europe’s offshore wind deployment goals as the sector scales up to meet 2030 climate targets.
